First, you must keep in mind that just because there is bad cell phone service in your area does not mean that it's a needed location for a cell phone tower. A tower in your area is likely to be built if you are surrounded by an urban or suburban population or close to roadways with high traffic counts. If you have an industrial parcel surrounded by residential property, the likelihood of building a tower increases. If there is a need for a cell phone tower, typically you will be approached by a wireless carrier.
A tower is not likely to be built if another tower lies within a mile of your location or if your land resides in a residential area and is surrounded by industrial property.
The piece of land must be large enough to meet the "fall zone" criteria as well and if there is no Zoning in your area, it is requested that you don't get a tower, period. If you are not approached then chances are, your location is not needed.
To get approval for a tower you need a letter of intent from a wireless carrier. You also have to have proper zoning or make a request for a zoning change to allow a cell tower on your property. If you meet the criteria for a cell tower, there are many general contractors who can walk you through the development process,
Most cell towers cost between $75,000 and $200,000 with about a $13,000 down payment. The average cost is between $100,000 and $150,000.
Depending upon the location, the cell tower lease of the space on the tower would net between $18,000 to $30,000 per year. The average tower can accommodate four users or up to $120,000 PER YEAR in income. Assuming that the tower costs $10,000 a year to operate, that is a net income of $110,000 per year off of a structure that costs up to $200,000 to build.
Wireless Capital Partners will buy your cellular tower lease from you for cash - and you can still keep your property. This is the way to go if you want a lump sum for the cell phone tower lease, rather than collecting it on a monthly or yearly basis.
